Joint optimisation of inspection maintenance and spare parts provisioning: a comparative study of inventory policies using simulation and survey data

Zahedi-Hosseini, Farhad, Scarf, Philip and Syntetos, Argyrios ORCID: https://orcid.org/0000-0003-4639-0756 2017. Joint optimisation of inspection maintenance and spare parts provisioning: a comparative study of inventory policies using simulation and survey data. Reliability Engineering & System Safety 168 , pp. 306-316. 10.1016/j.ress.2017.03.007

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Abstract

The demand for industrial plant spare parts is driven, at least in part, by maintenance requirements. It is therefore important to jointly optimise planned maintenance and the associated spare parts inventory using the most appropriate maintenance and replenishment policies. In this simulation-based study, we address this challenge in the context of the random failure of parts in service and the replacement of defective parts at inspections of period T. Inspections are modelled using the delay-time concept. A number of simultaneous periodic review and continuous review replenishment policies are compared. A paper making plant provides a real context for the presentation of our ideas. We survey practitioners working with such plant to collect real data that inform the values of parameters in the models. Our simulation results indicate that a periodic review policy with ordering that is twice as frequent as inspection is cost optimal in the context of the plant that we study. For the purpose of comparison, we also present and discuss the characteristics of the various policies considered.

Item Type:	Article
Date Type:	Publication
Status:	Published
Schools:	Business (Including Economics)
Subjects:	H Social Sciences > HD Industries. Land use. Labor
Uncontrolled Keywords:	Maintenance; Spare parts; Delay-time; Simulation; Joint optimisation
Publisher:	Elsevier
ISSN:	0951-8320
Date of First Compliant Deposit:	13 March 2017
Date of Acceptance:	10 March 2017
Last Modified:	07 Nov 2023 07:05
URI:	https://orca.cardiff.ac.uk/id/eprint/98919

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